Join our daily newsletter At The Bell to receive exclusive market insights
- PointsBet Holdings’ (PBH) subsidiary signs a deal with professional soccer team, Austin Football Club, to pursue gaming opportunities in Texas
- The deal runs over 10 years from the date PBH takes its first bet in Texas and will see PBH receive recognition at Austin Football Club’s new stadium
- PointsBet will pay Austin FC a sponsorship and market access fee to Q2 Stadium, and a portion of revenues from any future sportsbook and iGaming operations in Texas
- The partnership will provide the only retail sports wagering presence in Austin
- PointsBet is down 1.25 per cent, trading at $9.48 at 11:17 am AEST
PointsBet Holdings’ (PBH) subsidiary has signed an agreement to pursue gaming opportunities in Texas.
PointsBet Texas has entered an exclusive agreement with professional soccer club, Austin TeamCo Football Club (Austin FC), appointing PointBet as its exclusive sportsbook partner. The market access agreement runs until 10 years from the date PointsBet takes its first bet in Texas.
Through the deal, PointsBet will receive permanent onsite recognition at Austin Football Club’s new Q2 Stadium as the stadium’s exclusive and official sports betting partner. PointsBet will also gain full usage of the company’s IP, marks and logos.
PointsBet and Austin FC will also provide both English and Spanish language advertising, integrations and brand visibility across broadcast, radio and digital assets.
PointsBet will pay Austin a sponsorship fee, split between pre-legalisation and post-legalisation of sports betting. Additionally, PointsBet will pay Q2 Stadium a market access fee, on top of a portion of the net gaming revenues derived from any future sportsbook and iGaming operations in Texas.
As the first and only pro sports team located in Austin, the partnership will provide for the only retail sports wagering presence in Austin, which is said to be among the fastest growing cities in the US.
At this point, no bill has been passed in Texas, but PointsBet expects legislation will soon be introduced to permit sports betting to be offered by racetracks and professional sporting organisation. This is expected to apply to both online and in person at racetracks and sporting stadiums.
CEO of PointsBet US Johnny Aitken said the company was excited to join with Austin FC in its inaugural season as a founding partner.
“In owning and operating our technology from end to end, PointsBet can innovate our product and personalise our offerings according to fan interest and needs,” Mr Aitken said. “We hope to be able to unveil our offering to Austin FC supporters in the near future when legislation permits.
“In the meantime, we look forward to the opening of the PointsBet SportsBar at the grounds of Austin FC and watching soccer in the amazing new MLS stadium.”
Additionally, PointsBet will donate to local non-profit, 4ATX Foundation, over the first three years of the sponsorship agreement. This will go towards community outreach and charitable giving in the Austin area.
PointsBet was down 1.25 per cent, trading at $9.48 at 11:17 am AEST.
